There clearly needs to be an external examination of how members' money is being used. It is clear that fees are too high and that there is enormous feather-bedding and waste. My guess is that you could halve membership fees with no appreciable decline in 'services.'

An association of accountants that runs an AFSL licensee is engaging an accounting firm to manage the investments. There could be some benefit to this but I wonder what the fee is. Best way to save the fee is to not collect the money they don't need.

Keep up the good work everybody. What is becoming clear is that the "balance sheet" and ability to create serious positive cash flow (minus CPA Advice) has made the Board focus on quantity rather than quality. Quantity means power, influence and opportunity. There is no room for democracy to get in the way while CPAA head towards $100m in the bank and a public IPO.

Here's a view on the over billing and over spending of over $30m each year.

It is based upon a review of 2006 (pre constitutional changes) and 2010 (start of impact of "brand").

Regarding compensation in 2006, from the PRINCIPLE 9: REMUNERATE FAIRLY AND RESPONSIBLY the report stated,
- "In 2006, directors did not receive remuneration”
- "total remuneration of the five highest paid executives (non- directors) is between bands A$200K– A$300K and A$400K
- "individual bonus up to a maximum of 7%”

Apart from the well publicised executive and board amounts, it seems there has been an escalation in pay. From 2006 to 2016 pay has DOUBLED from $30m to $60m while FTE has only increased from 426 to 470.

More to follow, particularly rebutting the claim that member increase is attributable to the brand and marketing.